St. Petersburg Paradox
(wikipedia.org)
The St. Petersburg paradox or St. Petersburg lottery[1] is a paradox involving the game of flipping a coin where the expected payoff of the lottery game is infinite but nevertheless seems to be worth only a very small amount to the participants.
The St. Petersburg paradox or St. Petersburg lottery[1] is a paradox involving the game of flipping a coin where the expected payoff of the lottery game is infinite but nevertheless seems to be worth only a very small amount to the participants.